MSM at it again: Stocks fall as Obama releases housing plan details

[SuperTrouper]

Now that Obama had a great Stimulus victory and America approves of it (leaving the GOP with a major black eye), the MSM just cannot help themselves...they are now espousing GOP talking points saying that Obama is destroying the stocks and Wall Street, now with his Housing Plan. :mad:

http://news.yahoo.com/s/ap/20090218/ap_on_bi_st_ma_re/wall_street

[w4rma]

1. The MSM is destroying stocks and Wall Street. I say, let them. (nt)

[whosinpower]

2. It makes total sense

That Wall Street would hate this housing plan. It forces the banks to either take a loss and refinance at a lower, more realistic main street rate.

Reality bites hard when illusionary profits are in your eyes.

One thing to be crystal clear about the GOP in their reaction - clearly their interests are NOT in the best interests of homeowners - millions of homeowners who face foreclosure and/or bankruptcy.

[uponit7771]

3. The AP is a getting Reich ragish

[jenmito]

4. The DOW is up now...and the title of your article NOW says, "Stocks climb as mortgage relief plan

unveiled." :wtf:

[Spazito]

5. LOL, I was just coming to post that!

The Dow is up 55 points.

[jenmito]

6. Can you believe it-the article is totally changed as if the original one was never

written? They could've SAID, at least, that they changed the article due to the change in the market. :shrug:

[Spazito]

8. I remember, in the 'good old days' when there was actual reporting...

if there was an error made, an apology and a retraction was printed. These days it is print,(virtually or otherwise) crap and when shown to be wrong, just delete as if it never happened, knowing that their deliberately misleading article has already been spread far and wide.

[jenmito]

10. Same here. And they changed it AGAIN: "Stocks fluctuate on details of housing plan"

:eyes:

[Spazito]

15. LOL, I feel somewhat sorry for the person who has to do this constant shift....

I just hope they have the energy to keep up if this is going to be the way the story is going to be covered.

[jenmito]

17. I don't. They should just not say ANYTHING until his speech is finished. n/t

[Spazito]

20. LOL, but that would mean they were practicing......

(gasp) journalism and that would never do!

Remember the one doing the entry changes is most likely not setting their policy hence my sympathies.

[AngryAmish]

21. My friend, business reporting is always like that

Why do stocks rise or fall on any particular day? or hour? Except for certain things (like a country defaulting on debt) nobody knows.

CNBC and the ilk are garbage, because they confuse correllation with causation.

It rained this morning in Chicago. Stock fell, then rose. Did the rain have anything to do with it?

Rant off.

[Spazito]

22. LOL re the rain...

I fully agree with you on their confusion and will only add it is deliberately done, imo.

[Freddie Stubbs]

7. Apperently the MSM is at it again

[bdamomma]

23. they never stop, I love to see their ratings tank.

[Clio the Leo]

9. lol, and now we're on to "stocks fluctuate"

[jenmito]

13. I just noticed the same thing!

[Milspec]

12. LOL its now Stocks fluctuate!

:rofl:

[jenmito]

14. The minute Obama said his plan would NOT help unscrupulous buyers/lenders, the

market started falling!

[Kalyke]

11. Frankly, I don't care what Wall Street thinks.

If it weren't so tied to our economy, I'd say they could take a long walk off a short pier.

It's time for the middle class and poor to get some relief. Let the Wall Streeters eat gold-gilded cake.

[Thrill]

16. DOW goes down as Obama tells Wall Street it won't help them :)

[jenmito]

18. I noticed and said the same thing! :)

[Jennicut]

19. CNBC...direct quote from one of the so called financial experts:

"People will now purposely default on their mortgages to get assistance." Um, no idiot. Our mortgage is not always easy to make every month but we would never think about defaulting on it. They think so little of the average person. We are peons, village idiots to them. We mean nothing because we have nothing to give to Wall St. in terms of money. F*ck them. Our President is finally addressing OUR problems, the ones they all caused, and Wall St. doesn't like it? I say who cares! I don't have any stocks anyways, I can't afford "extra" money to put in the stock market. Every single penny goes to our expenses. Savings? What savings? We have none. So f*ck them and the horse they rode in on.